Andrei.Hicks wrote on Sep 24
th, 2013 at 9:06pm:
skippy. wrote on Sep 24
th, 2013 at 9:03pm:
perceptions_now wrote on Sep 24
th, 2013 at 8:46pm:
longweekend58 wrote on Sep 24
th, 2013 at 3:53pm:
Lisa Jones wrote on Sep 24
th, 2013 at 3:50pm:
adelcrow wrote on Sep 24
th, 2013 at 1:53pm:
From the above link ...
The Federal Government's moving to clamp down on environmental groups who lobby for company boycotts overseas.
That has been welcomed by forest workers in Tasmania who accuse green groups of spreading half-truths in key markets like Japan. It's encouraging to see that Abbott is supporting (and is being supported by) forest workers. About time workers got a break. Good on you Abbott
this is how Abbott well get to be even more popular - by standing up for workers and business against the bully-boys from the greens and labor.
It is exciting watching our economy start to move again. Is the OZ Economy picking up?
Really?
Please explain?
How?
Where?
When, did it start?
What, are the major Drivers? In a small mind it is. I am willing to put money on us going to the next election, NO MATTER WHEN IT IS with a worse economy than the last election had.
Like the 2013 election showed an economy a sh*tload worse than when the Government took over in 2007.
Debt increased by 340%
Debt increased by $235,000,000,000
Forecast missed of $107,000,000,000 in just 3 years
Unemployment rising
Business confidence stalling
Six deficits out of six budgets
Yep the last Government sure did a grand job
Congress Session Years President Start debt/GDP End debt/GDP Increase debt
(in Billions of $) Increase debt/GDP
(in percentage points)
7778 19411945 Roosevelt 50.4% 117.5% +203 +67.1%
7980 19451949 Roosevelt, Truman 117.5% 93.1% -8 -24.4%
8182 19491953 Truman 93.1% 71.4% +13 -21.7%
8384 19531957 Eisenhower 71.4% 60.4% +6 -11.0%
8586 19571961 Eisenhower 60.4% 55.2% +20 -5.2%
8788 19611965 Kennedy, Johnson 55.2% 46.9% +30 -8.3%
8990 19651969 Johnson 46.9% 38.6% +43 -8.3%
9192 19691973 Nixon 38.6% 35.6% +101 -3.0%
9394 19731977 Nixon, Ford 35.6% 35.8% +177 +0.2%
9596 19771981 Carter 35.8% 32.5% +288 -3.3%
9798 19811985 Reagan 32.5% 43.8% +823 +11.3%
99100 19851989 Reagan 43.8% 53.1% +1,050 +9.3%
101102 19891993 Bush Sr. 53.1% 66.1% +1,483 +13.0%
103104 19931997 Clinton 66.1% 65.4% +1,018 -0.7%
105106 19972001 Clinton 65.4% 56.4% +401 -9.0%
107108 20012005 Bush 56.4% 63.5% +2,135 +7.1%
109110 20052009 Bush 63.5% 84.2% +3,971 +20.7%
111112 20092013 Obama 84.2% 102.7% +6,061 +18.5%
http://en.wikipedia.org/wiki/History_of_the_United_States_public_debt
http://www.usgovernmentdebt.us/debt_deficit_historyAndrei,
I have posted the above US info, simply to confirm again that Global Economics is far from static, there are continually movements, including Political, Economic & just plain old Greed that influence & shape events.
It is simply not logical or indeed possible to say that "Countries should always run at a Surplus. As can be seen from these US examples, the US has almost always run at a Debt. Certainly the Roaring 20's got things started, the Great Depression moved things up a few notches & WW2 really ramped the Debt into the stratosphere.
Post WW2 Politicians from both the Right & Left generally moved Debt lower, until Reagan (a Republican) again released the Debt genie from the bottle, in the 1980's.
Then, Clinton (a Democrat), with the advantage of some of the Peak Baby Boomer Boom years, again moved the Debt lower.
Then came Bush Jnr, 9/11 & the start of the GFC in 2007 and Debt again took off and it has continued back towards the stratospheric heights of WW2, with little or no positive results to show for it!
So, in the US, between 2005-2013, their Debt to GDP ratio has gone from 63.5% to 102.7%.
Whilst in OZ, between 2007-2013, our Debt to GDP ratio went from around 5% to around 27%.
The start point of 5% is attributable to the Libs & although they could have & should have, done better because they had the advantage of those Peak Baby Boomer years (like Clinton did), they clearly did quite a lot better than did the US & many other countries.
From 2007, Labor has had the GFC to deal with & whilst they did have some cock-ups, their overall result was actually quite reasonable compared to the US and most other countries.
That said, the major Economic Drivers, which have been directing events for quite some time, are all still negative & they are likely to remain so for quite some time.
So, we can not continue with the old status quo, as it simply is no longer available & we can not continue to increase Debt, therefore we will have to look at things differently!
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